ofrnxmr feat. BasicSwapDEX - take over the world pt 2

Welcome ladies and gentleman, kids and pets.

Lets skip the intro.

BasicSwapDEX is, as far as i know, Moneros's only Bidirectional Atomic swap service, and the only one that allows swapping monero with coins not named Bitcoin, such Litecoin.

BasicSwapDEX has been mainnet for a while now, but is a beta / POC. With this CCS I hope empower and steward BasicSwapDex to production quality software within 1 year. Some milestones are to be paid to ofrnxmr in advance, to avoid haveno debacles. Id also request that all funds to be held by ccs coordinator (not luigi or core).

M0 = accelerate work / probation.

• Paid at funding. Covers the first 3 months. The full 650xmr to be paid to ofrnxmr to distribute as follows:
  • 200xmr to ofrnxmr
  • 100xmr to ofrnxmr to pay for bounties, extra help, and/or bonuses to backend/frontend devs
  • 200xmr to backend (tecnovert)
  • 150xmr to frontend (crz)

M1-F - Frontend GUI v3.0.0 - v5.0.0

• Paid start of month 4
  • 300xmr earmarked for frontend development (paid out by ofrnxmr as work is completed)
  • 100xmr to ofrnxmr to pay for bounties, extra help, and/or bonuses to backend/frontend devs

M1-B - Backend v0.13 - v0.15

• Paid start of month 4
  • 400xmr earmarked for backend development (paid out by ofrnxmr as work is completed)
  • 100xmr to ofrnxmr to pay for bounties, extra help, and/or bonuses to backend/frontend devs

M2 - Delivery of 1.0

• Paid after M1-F and M1-B are completed to satisfaction, and 1.0 is shipped
  • 175xmr for frontend dev(s)
  • 275xmr for backend dev(s)

M3 = Maintenance

• Payout in Month 13 at the earliest, to be redistributed on a monthly basis
  • 10xmr to backend devs
  • 10xmr to frontend devs
  • 5xmr to ofrnxmr

Scope (wherever technically possibly)

• M0 = Catchup work. Begin preparing for M1 milestones.
  • Some things yet to be completed
• M1-B - Backend v0.13 - v0.15
  • Secure the backend
  • Better code reviews
  • Fix and enhance user APIs
  • Add provider / swapper APIs
  • Web frontend APIs
  • Enable swaps between incompatible coins. [Example: XMR <> FIRO]
  • Integrations of atomic protocals such as those from BCH and ETH
  • Disconnect SMSG from Particl blockchain
  • Create and use a local price oracle
  • Bridge orderbooks from other services such as Samourai
  • EVM wallet compatibility
  • Necessary changes to enable frontend features
• M1-F - Frontend GUI v3.0.0 - v5.0.0
  • CEX-like UI and UX (aside from speed)
    • Orderbook
    • Market depth
    • Order types ie. Market, limit, stop, trailing, profit taker
  • Private orderbook UI
  • Overall UI and UX updates
    • Mobile friendly
    • Better notifications
    • Improve / simplify in progress and histroical bid details
  • Historical swap exports
  • Drop reliance on centralized price APIs
  • Add wallet (rpc) functionality to the wallets themselves
• M2 - Delivery of 1.0
  • M1-X Completed to satisfaction
  • Ship 1.0 installation packages as (example), a Flatpak, appimage
• M3 - 1yr Maintenance
  • Addressing concerns in an efficient manner
  • Continued improvement of the codebase

The scope of work is quite large. You can follow Particl dev report (going back to january) for current, ongoing and planned work, which is ever evolving.

Should any part of this CCS fail, I may choose to redirect remaining funds to fork the project or to acquire devs willing/able to complete it.

In the event of total failure, all unused funds will be donated to a 2/3 multisig (The elusive "jetfund") with the COMMUNITY Coordinator and 1 other [TBD] party, to be used as the community decides....Though, im ofrnxmr. I'm not fill in name of scammer. I will see this through to completion.

Coverage

• M0 = Month 0-3
• M1-X = Month 4 'til Completion of M1-X milestones
• M2 = Completion of M1-X milestones til Month 12
• M3 = 12 Months. Earliest pay may begin is Month 13

Things to note:

The Particl blockchain - of which SMSG currently transmits the orderbook across.

1. Is POS.
2. Has a 50% emission tax.
3. Uses on chain voting.

I personally don't like or agree with the centralization involved with combining those 3 items into a blockchain. Having BasicSwapDEX secured by such a system is less than ideal.

The good? SMSG doesnt rely on the consensus model of Particl.

This emission goes towards the "Particl Treasury". Particl has their own CCS system that typically draws from the treasury to pay for development. this Particl CCS. The market price of Particl is too low to sustain development, which ultimately hurts Monero, as we are the leading blockchain that requires the types of solutions that Particl brings to the table.

If you want to secure the smsg network, you are (currently) forced to run a Particl node. If you do choose to stake to secure the particl network, youre forced to donate 50% of total emission. If you dont stake, you have no control over the direction of the project(s). The emission can be used vote - on chain - to whichever direction the recipient of the emission taxes decide to vote - leading to centralization and ultimately control over the project(s). A downward spiral in the value of the blockchain.

TLDR: This CCS allows the Monero community to lead the space to a goal of having a FOSS, trustless, unregulatable, P2P, decentralized, liquid economy, with 0 fees, 0 dev taxes and 0 targets.

I would hope (and assume) that non-monero communities who are under constant threat for having cypherpunk ideals (cough BTC, BCH, ETH, and whoever is next on the hitlist) will also support and donate to this endeavor.

In contrast to other DEX solutions

• Bisq requires Bitcoin
• Haveno, a fork of Bisq, is not trustless and has a fee/profit-necessary human factor similar to LocalMonero: arbitrition. It also requires trusting whomever launched the network that you chose to join.
• Serai is trustless, but liquidity pools are profit driven and require SRI.*
• KamodoDEX implemented geo-blocking in the past (and doesnt support XMR)
• Samourai and UnstoppableSwaps are unidirectional and only support BTC <> XMR

All of these have either already been subjected to regulatory pressure, are prime targets, or are not full solutions.

*In addition, I believe Serai's functionality requires the public sharing of monero view-keys while also utilizing txextra, which both on their own and together will reduce the privacy of non-serai monero transactions. I may be incorrect / outdated in regards to Serai + view keys + txextra. If FCMP precedes serai, it may alleviate some of these issues as well.